New Delhi Television LimitedQ1 FY27 Results & Financial Update
New Delhi Television Limited: Q1 FY27 consolidated results and company financials – revenue ₹117.23 Cr, PAT ₹-81.88 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore New Delhi Television Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
New Delhi Television Limited posted its financial results for the first quarter of fiscal 2027, reporting a consolidated revenue from operations of INR 117.23 crore for the period ended June 30, 2026.
Total consolidated income for the quarter stood at INR 119.96 crore, which includes other income of INR 2.73 crore.
The company incurred a consolidated net loss after tax (PAT) of INR 81.88 crore for Q1 FY27, alongside a loss before tax (PBT) of INR 81.60 crore.
Basic and diluted earnings per share (EPS) for the quarter were reported at negative INR 7.24 (not annualised, on a face value of INR 4 per share).
Operating expenditure remained substantial across the board, with production expenses and the cost of services touching INR 54.31 crore, employee benefits standing at INR 49.14 crore, and marketing, distribution, and promotional expenses reaching INR 56.43 crore.
Financing costs and depreciation and amortisation for the quarter stood at INR 6.70 crore and INR 9.89 crore respectively, reflecting the capital structure and asset base of the consolidated entity following prior restructurings and amalgamations.
The statutory auditors, M/s. S.N. Dhawan & Co LLP, issued an unmodified review report on both the standalone and consolidated unaudited financial results for the quarter.
01 · Business model
What does New Delhi Television do?
New Delhi Television Limited (NDTV) is a prominent Indian media company engaged primarily in television broadcasting and related digital and media operations. The group operates news and current affairs broadcasting channels, delivering extensive news coverage across multiple platforms.
The company's operational ecosystem includes television broadcasting alongside digital publishing and convergence activities handled through subsidiaries such as NDTV Convergence Limited, expanding its reach into digital content and online media monetization.
NDTV's revenue is predominantly driven by advertising streams, programming syndication, broadcasting airtime monetisation, and digital content distribution across its television and online networks.
The corporate structure includes multiple operating entities and joint ventures following strategic corporate restructuring, such as the amalgamation of transferor companies including NDTV Networks Limited, NDTV Worldwide Limited, NDTV Media Limited, and NDTV Labs Limited, which became effective in October 2025.
02 · Historical context
What shaped the business before this quarter
Pursuant to the sanction of the Scheme of Amalgamation by the Regional Director (Northern Region), Ministry of Corporate Affairs, four transferor companies—NDTV Networks Limited, NDTV Worldwide Limited, NDTV Media Limited, and NDTV Labs Limited—were amalgamated into NDTV effective October 1, 2025, with financial statements restated under Ind AS 103.
The company has an ongoing history of tax litigations and regulatory proceedings, including reassessment notices under Section 148 of the Income-tax Act, 1961, for Assessment Year 2008-09 which resulted in a revised tax demand of INR 420.36 crore after rectification orders in March 2026, though a complete stay of demand has been granted by the Principal Commissioner of Income-tax (Central) until final disposal before the CIT(A).
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹117.23 Cr |
| Total income | ₹119.96 Cr |
| Profit before tax | ₹-81.60 Cr |
| Profit after tax | ₹-81.88 Cr |
| EPS | ₹-7.24 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -69.8% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -69.6% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹2.73 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations of INR 117.23 crore was generated primarily from television media broadcasting and related digital operations across the consolidated group.
Other income contributed an additional INR 2.73 crore to the total consolidated income of INR 119.96 crore for Q1 FY27.
What drove margins
Marketing, distribution, and promotional expenses stood at INR 56.43 crore for the quarter, forming one of the largest single cost overheads affecting profitability.
Employee benefits expenses were reported at INR 49.14 crore, while production expenses and cost of services accounted for INR 54.31 crore.
Operating and administrative expenses stood at INR 25.09 crore, alongside finance costs of INR 6.70 crore and depreciation and amortisation charges of INR 9.89 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The NDTV Group is primarily engaged in the business of Television Media and related operations. As per Ind AS 108, the company reports no separate reportable operating segments.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
The company entered into a binding term sheet on September 19, 2025, with Lifestyle & Media Broadcasting Limited to acquire the 'GoodTimes' channel and associated intellectual property rights under a Business Transfer Agreement, pending customary closing conditions and regulatory approvals from the Ministry of Information and Broadcasting.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Strategic steps remain underway to integrate the GoodTimes channel acquisition into the network's broadcasting footprint upon final regulatory clearances.
08 · Reported developments
What changed operationally
In connection with the 2017 CBI FIR, the Hon’ble Rouse Avenue Court accepted a closure report finding no criminality or violation against any accused persons, and the Hon’ble Delhi High Court subsequently quashed the Enforcement Case Information Report (ECIR) registered by the Directorate of Enforcement in mid-2025.
The company secured a complete stay of demand from the Principal Commissioner of Income-tax (Central), Delhi-1, regarding the revised tax demand of INR 420.36 crore for AY 2008-09, valid until final disposal of the appeal before the CIT(A).
09 · Pressure points & risks
What is not going smoothly
The consolidated net loss after tax stood at INR 81.88 crore for Q1 FY27, driven by high operating, promotional, and production expenses relative to operational revenues.
Financial statements for certain joint ventures (including Indianroots Retail Private Limited and Indianroots Shopping Limited) were unavailable for Q1 FY27, though their investments had been fully impaired in earlier years due to continued historical losses.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review
The standalone and consolidated financial results for Q1 FY27 were subjected to a limited review by statutory auditors M/s. S.N. Dhawan & Co LLP, who issued an unmodified conclusion.
Reported update
Labour Code Impact Assessment
The company evaluated the impact of the four Labour Codes enacted effective November 21, 2025, based on best available information, with financial implications recognized in prior periods.
11 · Key Q&A
The quarter, answered directly
What does New Delhi Television do?
New Delhi Television Limited (NDTV) is a prominent Indian media company engaged primarily in television broadcasting and related digital and media operations. The group operates news and current affairs broadcasting channels, delivering extensive news coverage across multiple platforms.
What is the clearest takeaway from Q1 FY27?
New Delhi Television Limited posted its financial results for the first quarter of fiscal 2027, reporting a consolidated revenue from operations of INR 117.23 crore for the period ended June 30, 2026.
What drove revenue or demand?
Revenue from operations of INR 117.23 crore was generated primarily from television media broadcasting and related digital operations across the consolidated group.
What mattered most for margins or profitability?
Marketing, distribution, and promotional expenses stood at INR 56.43 crore for the quarter, forming one of the largest single cost overheads affecting profitability.
What changed operationally beyond the headline numbers?
The company entered into a binding term sheet on September 19, 2025, with Lifestyle & Media Broadcasting Limited to acquire the 'GoodTimes' channel and associated intellectual property rights under a Business Transfer Agreement, pending customary closing conditions and regulatory approvals from the Ministry of Information and Broadcasting.
What are the main pressure points disclosed for the quarter?
The consolidated net loss after tax stood at INR 81.88 crore for Q1 FY27, driven by high operating, promotional, and production expenses relative to operational revenues.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Regulatory Approvals for GoodTimes Acquisition: Monitor the fulfillment of closing conditions and receipt of requisite approvals from the Ministry of Information and Broadcasting for the acquisition of the GoodTimes channel.
- 02
Tax Appeal Proceedings: Track the progress and outcome of the tax appeal before the Commissioner of Income-tax (Appeals) concerning the reassessment and rectification demands for Assessment Year 2008-09.
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